A subdivision under construction off West Main Street will offer affordable rent and energy-efficient appliances for low-income families, according to Craig Jeup of JPM Corp. of Jacksonville, Fla.

The planned community will have all its utilities underground and various floor plans to choose from. The space designated for each is approximately 1,200 square feet. Potential renters can expect three bedrooms and two bathrooms along with a single enclosed garage.

“These are new high-quality homes,” Jeup said. “Our focus is to manage the property well, because we have an asset we intend on protecting.” He estimated the subdivision will take almost three years to complete.

The West End Village project will have 30 single-family homes available for rent. All are designated for low-income families in an earning bracket less than 60 percent of the average median income for this area.

According to Jeup, 28 of these units will have a rent price of $570 a month. Two units will be available and set aside in consideration for families that qualify in a 30 percent median income bracket. Rent will run $205 a month for these two special units. The number of family members will also effect the rent tenants pay.

“In addition to the low rent, the buildings are designed to be extremely energy efficient,” Jeup said. The contractor plans on installing solar water heaters in all the units to help cut energy costs.

Jeup said JPM’s project supervisor Gregg Stadler is making every effort to work with local construction companies.

“The construction phase will add jobs to the city’s economy as well,” he said.

Jeup said the project is partially funded by the federal Housing and Urban Development agency through a low-income tax credit program. JPM was awarded these credits by the state of Arkansas, and the company sells them to developers and therefore creates the limited partnerships like West End Village. He said this creates 60-70 percent of the equity used. It also offsets permanent financing. This is what makes such low rent payments possible, Jeup said.

The partnership must maintain the houses as rentals for a minimum of 15 years before selling them to individuals. After that time period, tenants can begin to transition into ownership. Potential homebuyers will be allowed to allocate a portion of their rent for a purchase deposit.

JPM has been building homes since 1986. In another partnership, the company completed a similar subdivision project near Little Rock in the fall of 2012 and it is fully leased, according to Jeup. The Arkansas development finance authority made efforts to move these projects into areas that needed them.

Jeup said JPM uses accurate “market studies to prove and support that there is a need before we build” in a particular area.